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3 easy questions to help you find your niche and increase your profit margin

2nd Jun 2013
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If I met you at a networking event and asked you, 'what's your thing?' - could you answer me in a short simple sentence?

If you struggle with this question, then, this is an article which will help you find the answer to this question. Oh, and telling me you are a general practitioner who works with SMEs, doesn't really cut the mustard. After all, that doesn't give me much to go on to refer you onto others.

Whether or not you are a general practitioner who runs their own small practice, or aiming to build up a partner-sized portfolio, if you want to be easily referred and also save time with your marketing, you need to build up a profile as a specialist for something - i.e. find a niche. 

Here are 3 questions you can ask yourself to help you find your niche, and start your journey to reducing your marketing time and effort to build up a sizeable client portfolio.

1) Do you find your niche or does your niche find you?

This is an interesting question, because it can happen both ways. You can actively set out to create your own niche. Or you find that you get good at attracting a certain type of work or client. I.e. your niche finds you. My view is that it doesn't matter which way around you do it, just that you do it.

If you are short for time and just starting out, I would speed up the process and actively find your niche. After all, you don't have the time to play around with a handful of different niches or sectors. Just pick one or two and go for it.

For a copy of our free guide to choosing and capitalising on your niche from our career kitbag click the link.

2) Are you passionate about your thing?

I never set out to become passionate about helping people become the Go-To-Expert. It just happened along the way in my journey. However, when I speak to people on topics relating to this subject, my eyes start to shine, the energy comes in my voice, and I could spend hours and hours talking and debating this subject. Do you have this sort of passion for what you do? If you don't, what bits of your work or client base makes you feel energised and passionate? This is a big clue to finding 'your thing'

For a copy of our free guide to choosing and capitalising on your niche from our career kitbag click the link.

3) Can you build a decent sized client portfolio without a niche?

Of course you can. Many partners and small accountancy practice owners have done this in the past, and done it very successfully. They are probably still winning clients as well. However, there is a big if to this. These senior professionals are normally reaping the reward of strong and long-standing referral relationships. If you are going to stand out from your peers and maybe other partners you also need to build these strong relationships. To do that, you need to be memorable and stand out from your peers. Oh, we are back in the 'find a niche' argument again.

If you have limited time, and a limited marketing budget, and you are wanting to challenge established referral relationships then you are going to have to do something a little bit different. Focusing on developing a deep level of expertise and credibility for a niche is a very effective way of doing this.

For a copy of our free guide to choosing and capitalising on your niche from our career kitbag click the link.

How did you find your niche or did you niche find you?

Author Credit

Heather Townsend helps professionals become the Go-To-Expert. She is the author of the  award winning and best-selling book on business networking, the ‘FT Guide To Business Networking’ and the co-author of ‘How to make partner and still have a life’. Over the last decade she has worked with over 300 partners; coached, trained and mentored over 1000 professionals at every level of the UK's most ambitious professional practices.

Heather blogs regularly at How to make partner and still have a life and Joined Up Networking

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